Categories: News

Pensions: Switzerland votes against quitting at age 66, but for 13th month of pension

The Swiss are also facing pension reform. The country, whose aging population faces rising living costs, voted this Sunday on two crucial proposals for retirees: a 13th-month pension and raising the retirement age. According to estimates by Swiss media Le Temps and RTS, 75% of Swiss voted against the proposal to gradually raise the retirement age from 65 to 66 years. On the other hand, 58% voted for the thirteenth month pension. The initiative is also accepted in most cantons, which is a prerequisite for its adoption.

The monthly Swiss social security pension is capped at 2,450 Swiss francs (2,570 euros) for a single person and 3,675 francs for a married couple, a country regularly ranked among the most expensive in the world. In the city, a three-room apartment costs at least 3,000 francs (3,150 euros). A coffee costs more than five francs. If the Swiss give the green light to the change, they won’t be the first in Europe: neighboring Liechtenstein, another expensive country that uses the Swiss franc, implemented a similar system several years ago.

“Purchasing Power Crisis”

“Switzerland, like everywhere else, has a crisis of purchasing power. According to Pierre-Yves Mallard, president of the Swiss Trade Union Federation (SGB), which campaigned for a “yes” vote, pensioners’ living standards are falling. Jakob Houry, a retiree quoted by the “Yes” campaign, has a similar opinion: “The cost of living is skyrocketing”, and the pension fund, “supposed to guarantee a minimum subsistence, is not keeping up”. Left-wing parties supported the initiative, but right-wing and centrist parties vehemently opposed it. The government and parliament also opposed it.

The government claimed the proposed increase would cost more than four billion Swiss francs a year, warning it would require tax increases and could threaten the financial stability of the social security system. He also estimated that the proposed change would bring only limited social benefits to all retirees, regardless of their financial situation. “If the initiative is adopted, many retirees will receive a 13th Social Security payment even though they don’t actually need it,” federal officials argued.

The UDC, the radical right and the country’s leading party, warned that this “irresponsible” initiative would allow freeloaders to undermine the system. The party campaigned for a No Vote with advertisements, which showed 100 franc notes being sucked into a manhole.

Majority in 26 camps

Arguments that bear fruit: In a recent survey conducted by gfs.bern for the public channel SSR, 53% of people declared that they support the initiative, while 43% oppose it, compared to 61% of respondents a month earlier. in favor of, in favor of. To be approved, the initiative must win not only the popular vote but also a majority in at least half of Switzerland’s 26 cantons.

Voters also voted on a proposal by the Liberal Party’s youth wing to gradually raise the retirement age from 65 to 66 over the next decade, to ensure the sustainability of the pension system’s finances. The vote comes less than two years after Swiss voters decided to raise the retirement age for women from 64 to 65, the same as for men. Most people voted in advance during the country’s regular polls.

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